Iran: India heeds US call to halt oil purchase

India has ceased buying Iran’s crude oil as hoped by the United States as data from the industry and shipping sources show sharp decrease in oil imports last month.

Oil imports from Iran in June dropped by 16 per cent to reach 592,800 barrels per day (bpd) compared with May data.

The move, officials said, is a prelude to a complete halt of the purchase of crude oil from Iran before August when the United States is expected to impose new sanctions on the Islamic Republic following Trump’s withdrawal from the 2015 nuclear deal.

“Trump administration will push for zero crude, condensate and products exports from Iran,” Sri Paravaikkarasu, Head of East of Suez Oil at energy consultancy FGE told Reuters.

“The zero tolerance policy and the pace with which it is moving no doubt concerns Iran’s current crude buyers.”